<PAGE>

                                                                   EXHIBIT 10(c)

                                 BIG LOTS, INC.

                            SUPPLEMENTAL SAVINGS PLAN

                   AMENDED AND RESTATED AS OF JANUARY 1, 2003

                         EFFECTIVE AS OF JANUARY 1, 1991

<PAGE>

                                 BIG LOTS, INC.
                            SUPPLEMENTAL SAVINGS PLAN

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                           PAGE
                                                                           ----
<S>                                                                        <C>
PURPOSE - CONCEPT - EFFECTIVE DATE                                           4

ARTICLE I       PARTICIPATION

                Section 1.1 -    Eligibility                                 5
                Section 1.2 -    Conditions of Participation                 5
                Section 1.3 -    Election to Defer                           5
                Section 1.4 -    Company Matching Contributions              6
                Section 1.5 -    Deferred Accounts                           6
                Section 1.6 -    Statement of Accounts                       7

ARTICLE II      BENEFIT DISTRIBUTIONS FROM THE PLAN

                Section 2.1 -    Form of Distribution                        8
                Section 2.2 -    Acceleration of Benefit Payments            8
                Section 2.3 -    Withholding & Payroll Taxes                 8
                Section 2.4 -    Beneficiary Designation                     8

ARTICLE III     WITHDRAWALS

                Section 3.1 -    Hardship Withdrawals                        10
                Section 3.2 -    Withdrawal Procedures                       10

ARTICLE IV      COMMITTEE

                Section 4.1 -    Committee                                   11
                Section 4.2 -    Committee Procedures                        11

ARTICLE V       ADMINISTRATION

                Section 5.1 -    Administrative Powers and Duties            12
                Section 5.2 -    Expenses & Taxes                            12
                Section 5.3 -    Records                                     12
                Section 5.4 -    Determinations                              13
                Section 5.5 -    Legal Incompetency                          13
                Section 5.6 -    Action by the Company                       13
                Section 5.7 -    Exemption from Liability
                                 Indemnification                             13
                Section 5.8 -    Nonalienation of Benefits                   13
</TABLE>

                                       2

<PAGE>

<TABLE>
<CAPTION>
                                                                            PAGE
                                                                            ----
<S>                                                                         <C>
ARTICLE VI      INCLUSION & WITHDRAWAL OF EMPLOYERS

                Section 6.1 -    Inclusion of Employers                      15
                Section 6.2 -    Withdrawal of Employers                     15
                Section 6.3 -    Sale of Liquidation of Employers            15
                Section 6.4 -    Transfer Between Participating Employers    15

ARTICLE VII     MISCELLANEOUS

                Section 7.1 -    Employment and Other Rights                 16
                Section 7.2 -    Rights to Benefits                          16
                Section 7.3 -    Offsets to Benefits                         16
                Section 7.4 -    Amendment and Termination                   16
                Section 7.5 -    Change in Control                           17

ARTICLE VIII    DEFINITIONS

                Section 8.1 -    Beneficiary                                 18
                Section 8.2 -    Board                                       18
                Section 8.3 -    Change in Control                           18
                Section 8.4 -    Code                                        18
                Section 8.5 -    Company                                     18
                Section 8.6 -    Compensation                                18
                Section 8.7 -    Deferral Agreement                          18
                Section 8.8 -    Deferred Account(s)                         18
                Section 8.9 -    Employee                                    18
                Section 8.10 -   Employer or Employer                        19
                Section 8.11 -   Employer Securities                         19
                Section 8.12 -   ERISA                                       19
                Section 8.13 -   Highly Compensated Employee                 19
                Section 8.14 -   Matching Employer Contributions             19
                Section 8.15 -   Participant                                 19
                Section 8.16 -   Committee                                   19
                Section 8.17 -   Plan Year                                   19

ARTICLE IX      GENERAL PROVISIONS

                Section 9.1 -    ERISA Status                                20
                Section 9.2 -    Construction                                20
                Section 9.3 -    Controlling Law                             20
                Section 9.4 -    Effect on Invalidity of Provision           20

EXHIBIT A       JOINDER AGREEMENT & FORMS                                    21
</TABLE>

                                       3

<PAGE>

                                 BIG LOTS, INC.

                            SUPPLEMENTAL SAVINGS PLAN

PURPOSE

The purpose of this nonqualified deferred compensation plan is to promote the
success of BIG LOTS, INC. (the "Company") and any of its Affiliates that adopt
the plan, (now known as the Big Lots, Inc. Supplemental Savings Plan (the
"Plan")), by providing a means for certain highly compensated employees to defer
compensation.

CONCEPT

The Plan is designed to provide Participants with a supplemental vehicle through
which to defer compensation and related Matching Employer Contributions (if
applicable) in a manner substantially similar to deferrals made pursuant to
elections under the Company's tax-qualified 401(k) plan, as well as to defer
bonuses (if any) for the Plan Year that have not as yet been determined and paid
to the Participant.

The Plan is intended and designed to coordinate with the Company's tax-qualified
401(k) plan in a manner consistent with the intent of the Company as described
below. All contributions permitted by law and applicable regulations governing
the 401(k) plan shall be made and deferred to such 401(k) plan, and all
contributions deferred to this Plan shall be made (without regard to the
deferrals made with respect to the 401(k) plan) and shall be treated as an
unfunded contribution. In no event, however, may any Participant in this Plan
defer an aggregate amount of compensation in excess of one hundred percent
(100%) of the Participant's total compensation.

This Plan is a non-funded, supplemental executive deferred compensation plan
structured to benefit Participants in a manner that provides incentive to
improve profitability, competitiveness and growth of Big Lots, Inc. and its
Affiliates who are participating Employers in this Plan.

EFFECTIVE DATE

The Plan as evidenced by this document shall first become effective as of
January 1, 2003, and is an amendment and restatement of the Plan originally
effective as of January 1, 1991 and as last amended and restated on November 16,
1992, as amended from time to time.

The plan, originally known as the Consolidated Stores Corporation Supplemental
Savings Plan, has been amended to change the name of the Plan due to a change in
the name of the Company, as well as to make certain administrative changes;
namely, that this Plan is no longer coordinated with the Company's tax-qualified
401(k) plan by accepting contributions that are legally deemed to be in excess
of the limitations imposed under Sections 401(k), 402(g), and 415 of the
Internal Revenue Code (the "Code"); but, rather a separate and distinct
nonqualified deferred compensation plan that accepts contributions deemed in
excess of the tax-qualified 401(k) plan limitations described hereof.

                                       4

<PAGE>

                                    ARTICLE I

                                  PARTICIPATION

SECTION 1.1 - ELIGIBILITY

Only those Associates of the Employer who are considered Highly Compensated
Employees, as that term is defined under Section 414(q) of the Code, as amended
from time to time, shall be eligible to participate in this Plan as of the first
date of employment with the Employer, but only to the extent participation in
this Plan is made available to said Associates by the Committee in its sole and
final discretion. Notwithstanding, all Associates who were eligible to
participate and who were participating in the Plan as of January 1, 2003 of this
amended and restated Plan shall to continue to participate in the Plan on and
after said date.

SECTION 1.2 - CONDITIONS OF PARTICIPATION

An Associate shall not become a Participant herein until he or she furnishes
within a reasonable time limit established by the Committee, such completed and
executed elections, Beneficiary designations, consents and other documents and
information prescribed by the Committee. Each person upon becoming a Participant
shall be deemed conclusively, for all purposes, to have assented to the terms
and provisions of this Plan, and shall be bound thereby. Provided, however, that
certain restrictions shall apply to those Employees who constitute "Officers" or
"Directors" of Big Lots, Inc. within the meaning of Section 16 of the Securities
Exchange Act of 1934 (the "Exchange Act"), and attending regulations as adopted
and interpreted by the Securities and Exchange Commission as they relate to
investments (if any) in Employer Securities.

SECTION 1.3 - ELECTION TO DEFER

     (a) Except within the thirty (30)- day period following the date the Plan
         is initially extended to a Participant, the election to participate in
         and have Compensation deferred under the Plan must be made before the
         beginning of the period of service for which any Compensation upon
         which contributions to this Plan are based is earned. For purposes of
         this Plan, Compensation shall also include bonus amounts that may be
         attributable to service for the Employer prior to the effective date of
         said election by the Participant, but as not as yet determined and paid
         as of the effective date of said election.

     (b) For each subsequent Plan Year, a Participant may amend his or her
         existing elections, in writing in a new Deferral Agreement, prior to
         December 31 of such year, in a manner and to the extent to which the
         Participant's Compensation with respect to such subsequent Plan Year
         shall be deferred hereunder. An election by a Participant that has not
         been amended pursuant to this Section 1.3(b) shall be deemed to be a
         new election for the subsequent Plan Year.

     (c) A Participant who has made an effective election as to the deferral of
         Compensation for a Plan Year, may not change that election after the
         Plan Year has commenced; provided, however, that the deferral under any
         Deferral Agreement may be suspended or amended as provided in Section
         6.5.

     (d) The minimum annual amount which a Participant shall be eligible to
         elect to have deferred under this Plan for the Plan Year shall not be
         less than $1,000.

                                       5

<PAGE>

SECTION 1.4 - MATCHING COMPANY CONTRIBUTIONS

Each participating Employer shall cause matching contributions to be credited to
a Participant's account under this Plan, to the extent determined by the Board
of Directors of the Company and in an amount as the Board, in its sole
discretion, determines to be appropriate. Employer Contributions, if any, shall
vest according to the same schedule to which they would vest for a Participant
under the provisions of the Company's tax-qualified 401(k) savings plan, namely:

<TABLE>
<CAPTION>
Years of Vesting Service                    Vested Percentage of
    At Termination                                 Account
------------------------                    --------------------
<S>                                         <C>
     Fewer than 2                                     0%
     2                                               25%
     3                                               50%
     4                                               75%
     5 or more                                      100%
</TABLE>

SECTION 1.5 - DEFERRED ACCOUNTS

All Compensation deferred under the Plan and any Matching Employer
Contributions, if any, shall be credited to the Participant's Deferred Account
in the same manner as though contributed as permissible salary deferrals or
matching contributions to the tax-qualified 401(k) plan. Separate Deferred
Accounts shall be created and maintained by the Committee for each Participant
to reflect the appropriate allocation of deferred Compensation and Employer
Matching Contributions to the accounts and investment funds maintained for the
Participant. Such accounts and investment funds shall be established solely for
recordkeeping purposes, shall not be required to be informally or formally
funded or held in specific investments or as separated assets and shall meet all
of the requirements of Section 6.2 hereof as pertinent to nonfunded,
nonqualified deferred compensation plans. Credits and charges shall be made to
the Deferred Accounts in the following manner.

The Committee may, for administrative purposes, establish unit values for one or
more Investment Funds (or any portion thereof) and maintain the accounts setting
forth each Participant's interest in such Investment Fund (or any portion
thereof) in terms of such units, all in accordance with such rules and
procedures that the Committee shall deem fair, equitable and administratively
feasible. A Participant's interest in an Investment Fund (or any portion
thereof) in the event unit account is established shall be determined by
multiplying the then value of a unit in said Investment Fund (or any portion
thereof) by the number of units then credited to the Participant's Deferred
Account.

To extent authorized by the Board of the Company, a Participant shall have the
authority to make investment elections with respect to such Deferrals and any
Matching Employer Contributions on behalf of and for the benefit of the Company
or participating Employer in a manner as prescribed by the Committee, including
but not limited to electronic and telephonic means. Such investment authority,
however, shall not give ownership rights to the Participant of his or her
Deferred Account(s), but said Deferred Account(s) shall continue to be owned and
held in the name of the Company or participating Employer and subject to
creditors' rights as described in Section 7.2 of this Plan.

                                       6

<PAGE>

SECTION 1.6 - STATEMENT OF ACCOUNTS

The Committee shall cause to be provided to each Participant (or Beneficiary as
applicable), as soon as practical after the close of each calendar quarter, a
statement in such form as the Company deems desirable, setting forth the current
Plan's Deferred Accounts in a manner similar to that provided in the Company's
tax-qualified 401(k) plan.

                                       7

<PAGE>

                                   ARTICLE II

                       BENEFIT DISTRIBUTIONS FROM THE PLAN

SECTION 2.1 - FORM OF DISTRIBUTION

Distributions from the Plan shall be administered and made in a single sum cash
settlement or in kind for all Participants in the Plan, provided that insiders
subject to Section 16 of the Investment Company Act of 1934, as amended, shall
receive their distribution in a manner that complies with the requirements of
the Investment Company Act of 1934. An election by the Participant as to the
form of distribution under this Plan shall be made not later than six (6) months
prior to the projected date of distribution. Any change by the Participant as to
the form of distribution shall not become effective for a period of six (6)
months from the date the Committee is notified of the Participant's intent as to
form of distribution. In no event, however, shall a distribution from this Plan
be made prior to the date the Participant's employment with the Company or a
Employer terminates (by retirement, death, or otherwise), except as provided in
Section 2.2 hereof.

SECTION 2.2 - ACCELERATION OF BENEFIT PAYMENTS

The Committee, with approval of the Board, hereby reserves the right to
accelerate the payment of distributions, without the consent of the Participant
or the Participant's Beneficiary(ies), estate or any other person or persons
claiming through or under the Participant. In making such determination, due
consideration my be given to the health, financial circumstances and family
obligations of the Participant or Beneficiary (ies), as applicable. In this
regard, the Participant (or applicable Beneficiary(ies)) may be consulted;
however, they shall have no voice in the decision reached. The determination of
the Committee shall be final and conclusive upon the Company, participating
Employer, the Participant and the Beneficiary(ies).

SECTION 2.3 - WITHHOLDING & PAYROLL TAXES

To the extent required by law in effect at the time benefit payments are made
hereunder, the applicable Employer shall withhold from payments made hereunder
any taxes required to be withheld from an employee's wages. Determinations by
the Committee as to withholding shall be binding on the Participant and
applicable Beneficiary(ies).

SECTION 2.4 - BENEFICIARY DESIGNATION

Each Participant may from time to time designate any person or persons (who may
be designated contingently or successively and who may be an entity other than a
natural person) as their Beneficiary or Beneficiaries to whom Plan benefits are
paid if the Participant dies before receipt of all such benefits. Such
Beneficiary designation(s) shall not be subject to the surviving spouse
limitations/requirements applicable to tax-qualified retirement plans. Each
Beneficiary designation shall be filed in the written form prescribed by the
Committee and will be effective only when filed with the Committee during the
Participant's lifetime. Each written Beneficiary designation filed shall cancel
all Beneficiary designations previously filed with the Committee. A Participant
may revoke a Beneficiary designation only by filing with the Committee, during
the Participant's lifetime, either a superseding

                                       8

<PAGE>

Beneficiary designation, or such other writing in a form and manner prescribed
by the Committee. The revocation of a Beneficiary designation shall not require
the consent of the designated Beneficiary(ies).

If any Participant is not survived by a Beneficiary as designated above, any
death benefit payable hereunder shall be paid to the executor or administrator
of the Participant's estate.

A surviving Beneficiary of a Participant may designate a Beneficiary to whom
Plan benefits are to be paid if (i) the Beneficiary's death occurs before
receipt of all benefits otherwise payable, and (ii) without survival of a
secondary Beneficiary appointed by the Participant, or such secondary
Beneficiary has also died. If such a surviving Beneficiary dies before receiving
the entire death benefit and has not designated a Beneficiary (or such
Beneficiary has died), the remainder of such benefits shall be paid to the
executor or administrator of such Beneficiary's estate.

                                       9

<PAGE>

                                   ARTICLE III

                                   WITHDRAWALS

SECTION 3.1 - HARDSHIP WITHDRAWALS

Participants may elect to withdraw all or a part of their vested Deferred
Accounts but only for purposes of an unforeseen financial emergency that cannot
be satisfied through other means. "Unforeseen Financial Emergency" shall mean
those types of events that are not reasonably foreseeable, and are reasonably
unavoidable through taking other measures (i.e., medical emergency or natural
disaster). All such determinations shall be made by the Committee in its sole
and final discretion. Before any withdrawal for hardship may be made by any
Participant, the Participant must establish to the Committee's reasonable
satisfaction that liquidation of other assets or the exercise of other
alternatives are unavailable or insufficient to satisfy the emergency need.
Prior to any Hardship Withdrawal under the Plan, the Participant must first
exercise a Hardship Withdrawal under the Company's tax-qualified retirement
401(k) plan to the extent the Participant is a participant with an individual
account in said plan.

SECTION 3.2 - WITHDRAWAL PROCEDURES

The Committee shall from time to time adopt the necessary procedures to be
followed in the event a Participant seeks to elect a Hardship Withdrawal. All
procedures instituted by the Committee shall be binding upon the Participant.

                                       10

<PAGE>

                                   ARTICLE IV

                                   COMMITTEE

SECTION 4.1 - COMMITTEE

The retirement committee of the Company's tax-qualified 401(k) plan shall be the
Committee of this Plan in accordance with the intention of the Board, as
expressed herein.

SECTION 4.2 - COMMITTEE PROCEDURES

A committee member who at any time hereunder is a Participant shall not have any
vote in any decision under the Plan made primarily with respect to such
committee member or such member's or administrator's benefits hereunder. In this
event, the decision shall be made by a majority of the committee member's or if
the Plan is administrated by one individual, then by the Board.

All actions of the Committee shall be by majority vote and may be taken with or
without a meeting. If taken without a meeting, the action shall be in writing
and signed by a majority of the members.

In the event of any disagreement among the Committee members at any time acting
hereunder and authorized to act with respect to any matter, the decision of the
majority of said Committee members shall be controlling and shall be binding and
conclusive upon the Committee, the Participants, and their Beneficiaries and
upon the respective successors, assigns, executors, administrators, heirs,
next-of-kin and distributees of all the foregoing.

Subject to the provisions of this Section 4.2, each additional and each
successor Committee member at any time acting hereunder shall have all of the
rights and powers (including discretionary rights and powers) and all of the
privileges and immunities hereby conferred upon the initial Committee members
hereunder, and all of the duties and obligation so imposed upon the initial
Committee members hereunder.

Except as otherwise may be required by any applicable law, no Committee member
at any time acting hereunder shall be required to give any bond or other
security for the faithful performance of duties as such Committee member.

                                       11

<PAGE>

                                    ARTICLE V

                                 ADMINISTRATION

SECTION 5.1 - ADMINISTRATIVE POWERS AND DUTIES

The Board of Big Lots, Inc. shall designate such officer(s) of the Company to be
the authorized administrator of the Plan and to have the primary administrative
responsibility with respect to the Plan in coordination with and under the
direction of a Committee. The administrator shall serve at the pleasure of the
Board and the Committee and shall administer the Plan and all policy and
administrative functions shall be the full and total responsibility of the
administrator who shall perform said functions under the direction of the
Committee. The administrator shall interpret the provisions of the Plan where
necessary and may adopt procedures for the administration of the Plan that are
consistent with the provisions of the Plan.

The Committee may retain auditors, accountants, recordkeepers, legal counsel,
consultants and other counsel to assist in the administration of the Plan. Such
auditors, counsel, etc. may be persons acting in a similar capacity for the
Company or an Employer and may be associates of the Company or an Employer. The
opinion or any such counsel shall be full and complete authority and protection
in respect to any action taken, suffered or omitted by the Committee or
administrator designated by the Board in good faith and in accordance with such
opinion.

SECTION 5.2 - EXPENSES & TAXES

The Company and/or applicable Employer shall pay the reasonable expenses
incurred by the Committee and others performing services relative to the
administration of the Plan, including the fees and compensation of the persons
referred to in Section 5.1.

And gains or losses attributable to the Deferred Account(s) of the Participants
shall be gains or losses attributable to the Company and shall be income to the
Company; provided, however, that any taxes paid by the Company, by reason of
inclusion of gains in income of the Company under this subparagraph, may at the
sole and final discretion of the Company be debited against the Participants'
Deferred Accounts in a fair and equitable manner as determined by the Committee.

SECTION 5.3 - RECORDS

The Company, applicable Employers and the Committee shall each keep such records
and shall each give reasonable notice to the other of such information, that
shall be proper, necessary or desirable to effectuate the purposes of the Plan,
including, without in any manner limiting the generality of the foregoing,
records and information with respect to deferral elections, Deferred Accounts,
dates of employment and terminations, and determinations made hereunder. In
addition, the Company, the Employer and the Committee shall be protected in
acting upon any notice or other communication purporting to be signed by any
person and reasonable believed to be genuine and accurate, including the
Participant's current mailing address.

                                       12

<PAGE>

SECTION 5.4 - DETERMINATIONS

All determinations hereunder made by the Company or the Committee shall be made
in the sole and absolute final discretion of the Company or of the Committee, as
the case may be.

In the event that any disputed matter shall arise hereunder, including, without
in any manner limiting the generality of the foregoing, any matter relating to
the eligibility of any person to participate, the participation of any person,
the amount payable to any person, and the applicability and the interpretation
of the provisions of the Plan, the decision of the Committee upon such matter
shall be binding and conclusive upon the Company, the Committee, the
Participant, and Beneficiary(ies) and their successors, assigns, heirs and
distributees of all the foregoing.

SECTION 5.5 - LEGAL INCOMPETENCY

The Committee may direct payment either directly to an incompetent or disabled
person, whether because of minority or mental or physical disability, or to the
guardian of such person, or to the person having custody, without further
liability on the part of the Company, Employer, Committee, or any person, for
the amounts of such payment to the person on whose account such payment is made.

SECTION 5.6 - ACTION BY THE COMPANY

Any action by the Company or applicable Employer under this Plan may be by
resolution of the Board of Directors, or by an person(s) duly authorized by
resolution of said Board to take such action(s).

SECTION 5.7 - EXEMPTION FROM LIABILITY/INDEMNIFICATION

The Committee shall be free from all liability, for acts, omissions and conduct,
and for the acts, omissions and conduct of duly appointed agents, in the
administration of the Plan, except for those acts or omissions and conduct
resulting from willful misconduct and gross negligence.

The Company shall indemnify the Committee and any other Associate, officer or
director of the company or applicable Employer against any claims, loss, damage,
expense and liability, by insurance or otherwise, reasonably incurred by the
individual in connection with any action or failure to act by reason or
membership on a committee or performance of an authorized duty or responsibility
for or on behalf of the Company or applicable Employer pursuant to the Plan
unless the same is judicially determined to be the result of the individual's
willful misconduct or gross negligence. Such indemnification by the Company
shall be made only to the extent such expense or liability is not payable to or
on behalf of such person under any liability insurance coverage. The foregoing
right to indemnification shall be in addition to any other rights to which any
such person may be entitled as a matter of law.

                                       13

<PAGE>

SECTION 5.8 - NONALIENATION OF BENEFITS

Except as otherwise provided by law, no benefit, payment or distribution under
the Plan shall be subject either to the claim or any creditor of a Participant
or Beneficiary(ies), or to attachment, garnishment, levy, execution or other
legal or equitable process, by any creditor of such person, and no such person
shall have any right to alienate, commute, anticipate or assign (either at law
or equity) all or any portion of any benefit, payment or distribution under this
Plan.

The Plan shall not in any manner be liable for or subject to the debts,
contracts, liabilities, engagements or torts of any person entitled to benefits
hereunder.

In the event that any Participant's benefits are garnished or attached by order
of any court, the Committee may elect to bring an action for a declaratory
judgment in a court of competent jurisdiction to determine the proper recipient
of the benefits to be paid by the Plan. During the pendency of said action, any
benefits that become payable may be paid into the court as they become payable,
to be distributed by the court to the recipient as it deems proper at the close
of said action.

                                       14

<PAGE>

                                   ARTICLE VI

                      INCLUSION AND WITHDRAWAL OF EMPLOYERS

SECTION 6.1 - INCLUSION OF EMPLOYERS

Any Employer which is a Employer (as that term is defined in Section 414 of the
Code, as amended from time to time) and which is authorized by the Board of
Directors of Big Lots, Inc. to participate in the Plan as a Employer may elect
to participate by action of its own Board of Directors (or other managing body)
and by entering into a Joinder Agreement, a copy of which is attached hereto as
Exhibit A.

SECTION 6.2 - WITHDRAWAL OF EMPLOYERS

Big Lots, Inc. may, at any time in its sole discretion, determine to exclude any
Employer from the Plan. Any Employer may similarly elect to discontinue its
participation in this Plan at any time after the expiration of the sixty
(60)-day period immediately following the receipt of the Committee of the
Employer's written notice of its intent to so withdraw.

The exclusion or withdrawal of a participating Employer from the Plan shall not
adversely affect the administration of amounts already credited to the Deferred
Account(s) under the Plan of Participants employed by such Employer, with
respect to which amounts the Plan shall be continued until all such amounts
under the Plan have been paid by the Employer or otherwise liquidated under
applicable law or judicial judgment.

SECTION 6.3 - SALE OR LIQUIDATION OF EMPLOYERS

In the event Big Lots, Inc. should sell or otherwise directly or indirectly
dispose of sufficient interest in an Employer so that it no longer owns 50% of
such company, or an Employer is liquidated, Big Lots, Inc. shall assume and
guarantee payment of such Employer's remaining deferred compensation obligations
under this Plan.

SECTION 6.4 - TRANSFER BETWEEN PARTICIPATING EMPLOYERS

In the event that a Participant's employment is transferred from one
participating Employer to another, the transfer shall not adversely affect the
administration of amounts then credited to the Deferred Account(s) of such
Participant on or as of the date of transfer and the Participant's prior
participating Employer shall remain obligated to pay such deferred benefits in
accordance with the provisions of the Plan in effect prior to the date of such
transfer. The Participant's new participating Employer shall become obligated
under the terms of the Plan to pay any deferred compensation amounts credited to
the Participant's Deferred Account(s) upon and after said date of transfer.

                                       15

<PAGE>

                                  ARTICLE VII

                            MISCELLANEOUS PROVISIONS

SECTION 7.1 - EMPLOYMENT AND OTHER RIGHTS

Nothing contained herein shall require Big Lots, Inc. or any Employer to
continue any Participant in its employ, or any Employer, nor does the Plan
create any rights of any Participant or Beneficiary or any obligations on the
part of the Company or any Employer other than those set forth herein. The
benefits payable under this Plan shall be independent of, and in addition to,
any other employment agreements that may exist from time to time concerning any
other Compensation or benefits payable by the Company.

SECTION 7.2 - RIGHT TO BENEFITS

The sole interest of each Participant and each Beneficiary under this Plan shall
be to receive the deferred Compensation benefits provided herein as and when the
same shall become due and payable in accordance with the terms hereof and
applicable elections hereunder and neither any Participant nor any Beneficiary
shall have any right, title or interest (legal or equitable) in or to any of the
specific property or assets of Big Lots, Inc. or any participating Employer. All
benefits hereunder shall be paid solely from the general assets of Big Lots,
Inc. or applicable Employer and no Employer shall maintain any separate fund or
other separated assets to provide any benefits hereunder. In no manner shall any
property or assets of Big Lots, Inc. or any Employer be deemed or construed
through any of the provisions of this Plan to be held in trust for the benefit
of any Participant or designated Beneficiary(ies) or to be collateral security
for the performance of the obligations imposed by this Plan on the Company or
any participating Employer. The rights of any Participant hereunder and any
Beneficiary of the Participant shall be solely those of an unfounded and
unsecured creditor in respect to the promise of the Company or any participating
Employer, as applicable, to pay benefits in the future.

SECTION 7.3 - OFFSETS TO BENEFITS

Nothwithstanding any provisions of the Plan to the contrary, the Company or any
Employer may, or the Committee may, in its sole and absolute final discretion
determine, offset any amounts to be paid to a Participant under the Plan against
any amounts which such Participant may owe to such Employer.

SECTION 7.4 - AMENDMENT AND TERMINATION

While the Company and participating Employers intend to continue this Plan
indefinitely, the Plan may be amended, suspended or terminated at any time by
the Board of the Company; provided, that no such amendment, suspension or
termination shall adversely affect the administration of amounts already
credited to Deferred Accounts under the Plan, with respect to which amounts the
Plan shall continue until all deferred Compensation and applicable Matching
Employer Contributions (if any) credited to Deferred Accounts under the Plan
have been paid. In the event it should be determined for any reason by an
applicable agency of the federal government or by any court of competent
jurisdiction that the Plans does not satisfy the exclusions of Section 201(2),
Section 301(a)(3) and Section 401(a)(1) of ERISA, the Plan

                                       16

<PAGE>

shall be deemed terminated as of the date of such determination unless
alternative action by the Board of the Company is taken.

SECTION 7.5 - CHANGE IN CONTROL

In the event a "Change in Control" of the Company occurs, the Committee may
effect immediate lump sum payment of the Deferred Accounts (whether or not
vested) under the Plan to applicable Participants. For the purpose of this
Section, a "Change in Control" shall mean any of the following events:

(a) any person or group (as defined in Section 13 of Exchange Act) other than
    Company or any of its Employers becomes the beneficial owner of, or has the
    right to acquire (by contract, option, warrant, conversion of convertible
    securities or otherwise), twenty percent (20%) or more of the outstanding
    equity securities of BIG LOTS, INC. entitled to vote for the election of
    directors;

(b) a majority of the Board of Directors of the Company is replaced within any
    period of two (2) years or less by directors not approved by the majority of
    the directors of the Company in office at the beginning of such period, or a
    majority of the Board of Directors of the Company at any date consists of
    persons not so approved;

(c) the stockholders of the Company approve an agreement to merge or consolidate
    the Company with another company other than the Company or a Employer or an
    agreement to sell or otherwise dispose of all or substantially all of the
    assets to an entity other than the Company or a Employer thereof.

                                       17

<PAGE>

                                  ARTICLE VIII

                                   DEFINITIONS

For the purposes of this Plan, the following words and phrases shall have the
meanings indicated, unless the context clearly indicates otherwise:

SECTION 8.1 - ASSOCIATE

"Associate" means an individual who is currently employed by the Company or
Employer.

SECTION 8.2 - BENEFICIARY

"Beneficiary" means the person, persons, or entity designated by the Participant
to receive any benefits payable under the Plan pursuant to Article II.

SECTION 8.3 - BOARD

"Board" means the Board of Directors of the Company.

SECTION 8.4 - CHANGE IN CONTROL

"Change in Control" means the change in control of the Company as described in
Section 7.5 of the Plan.

SECTION 8.5 - CODE

"Code" means the Internal Revenue Code of 1986, as amended by time to time.

SECTION 8.6 - COMMITTEE

"Committee" means that person or persons appointed by the Company to represent
the Company in the administration of this Plan pursuant to the provisions of
Article IV.

SECTION 8.7 - COMPANY

"Company" means BIG LOTS, INC.

SECTION 8.8 - COMPENSATION

"Compensation" means the total remuneration paid to an individual (including but
not limited to bonuses) in a Plan Year.

SECTION 8.9 - DEFERRAL AGREEMENT

"Deferral Agreement" means an agreement filed by a Participant to effect
deferrals of Compensation hereunder.

                                       18

<PAGE>

SECTION 8.10 - DEFERRED ACCOUNT(s)

"Deferred Account(s)" means the accounts maintained by the Committee for each
Participant pursuant to Article I. Separate Deferred Accounts shall be
maintained for each Participant; however, more than one Deferred Account may be
maintained as necessary to reflect the nature of the account and various fund
allocations of the Participant. A Participant's Deferred Account(s) shall be
utilized solely as a device for the measurement and determination of the amounts
to be paid to or on behalf of a Participant pursuant to this Plan provided,
however, that such Deferred Account(s) shall not constitute or be treated as a
trust fund of any kind nor be deemed a funding arrangement under the Code or
ERISA.

SECTION 8.11 - EMPLOYER

"Employer" means the Company and/or a participating Employer or any successor to
the business thereof. For purposes of determining an Employer or Employer, the
rules of Section 414 of the Code shall govern.

SECTION 8.12 - EMPLOYER SECURITIES

"Employer Securities" means those securities (or common stock) of the Company as
currently traded on a nationally recognized stock exchange.

SECTION 8.13 - ERISA

"ERISA" means the Employee Retirement Income Security Act of 1974, as amended.

SECTION 8.14 - HIGHLY COMPENSATED EMPLOYEE

"Highly Compensated Employee" means an individual (as defined in Section 414(q)
of the Code) who is employed by the Company or Employer.

SECTION 8.15 - MATCHING EMPLOYER CONTRIBUTIONS

"Matching Employer Contributions" means contributions (if any) made by the
Employer pursuant to the terms of this Plan. Any Matching Employer Contributions
shall be made at the sole and final discretion of the Board of the Company.

SECTION 8.16 - PARTICIPANT

"Participant" means any Highly Compensated Employee who becomes a participant
pursuant to Section 1.1 of this Plan and who then elects to participate in the
Plan as described in Article I.

SECTION 8.17 - PLAN YEAR

"Plan Year" means a full twelve (12)- month period beginning each January 1 (the
calendar year).

                                       19

<PAGE>

                                   ARTICLE IX

                               GENERAL PROVISIONS

SECTION 9.1 - ERISA STATUS

This Plan shall constitute a plan, which is unfunded, and which is maintained
primarily for the purpose of providing deferred compensation benefits for a
group of Highly Compensated Associates of the Company or Employer.

SECTION 9.2 - CONSTRUCTION

In the construction of the Plan, the masculine shall include the feminine and
the singular shall include the plural in all cases where such meanings would be
appropriate.

SECTION 9.3 - CONTROLLING LAW

The law of the state of the Company's incorporation shall be the controlling
state law in all matters relating to the Plan and shall apply to the extent that
it is not preempted by the laws of the United States of America.

SECTION 9.4 - EFFECT OF INVALIDITY OF PROVISION

If any provision of this Plan is held invalid or unenforceable, such invalidity
or unenforceability shall not affect any other provisions hereof, and this Plan
shall be construed and enforced as if such provision had not been included.

IN WITNESS WHEREOF, this Plan has been executed on behalf of the Company by its
duly appointed officer this 26th day of March, 2004.

                                                                  BIG LOTS, INC.

                             By: /s/ Albert J. Bell
                                ------------------------------------------------
                             Title: Vice Chairman & Chief Administrative Officer

                                       20

<PAGE>

                                                                       EXHIBIT A

                                 BIG LOTS, INC.

                            SUPPLEMENTAL SAVINGS PLAN

THIS AGREEMENT (the "Agreement"), made as of this ____ day of ___________,20___,
between BIG LOTS, INC. (the "Company") and _____________________ ("Employer"):

                                   WITNESSETH:

WHEREAS, Employer wishes to adopt the Plan for the benefit of certain of its
Highly Compensated Employees; and

WHEREAS , the Board of Directors of the Company has approved the execution of
this Agreement pursuant to Section 5.1 of the Plan;

NOW, THEREFORE, BE IT RESOLVED THAT:

(a) Employer hereby adopts the Plan and all amendments now or hereafter made
    thereto and expressly covenants and agrees that, respecting any of its
    Associates who are eligible to become participants, it shall maintain such
    records as necessary under the Plan and shall pay according to the terms of
    the Plan all benefits accrued thereunder in respect to periods of employed
    with the Employer.

(b) The Company hereby consents to such adoption by the participating Employer,
    effective as of ____________________, 20____.

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed as of this ______day of _________________, 20___.


                                                                  BIG LOTS, INC.

                                            BY:_________________________________

                                               _________________________________
                                                            EMPLOYER

                                            BY:_________________________________

                                       21

<PAGE>

                                 BIG LOTS, INC.

                            SUPPLEMENTAL SAVINGS PLAN

PARTICIPATION AND DEFERRAL AGREEMENT

I hereby elect to participate in the BIG LOTS, INC. Supplemental Savings Plan
(the "Plan") and agree to the terms and provisions of the Plan and shall be
bound thereby. I make the following elections and designations with respect to
my Plan participation for the calendar year ending December 31, 20___ and for
each calendar year thereafter:

(a) I elect, pursuant to Article I of the Plan, to defer receipt of compensation
    in the amount of $__________ or _____% (not to exceed 50% of my total
    remuneration) per pay period.

(b) I further elect that ____% of my bonus (not to exceed 100%), if any, for the
    20___ calendar year, and for each calendar year thereafter, be deferred to
    my Deferral Account. I understand that this election can only be made prior
    to the Company's determination of any bonus for the calendar year.

(c) I direct that distribution of amounts in the Plan effected through this
    election be payable to me in the form of

______ lump sum distribution
______ in kind distribution
______ combination of above as elected by me

I understand that the amounts deferred in accordance with my election hereunder,
will be administered on an unfounded basis by the Committee, and that my rights
and those of my Beneficiary(ies) shall be as those of an unsecured creditor of
BIG LOTS, INC. I acknowledge that the BIG LOTS, INC. Supplemental Savings
Committee (the "Committee") reserves the right to accelerate payment of deferred
amounts under the Plan.

I further understand that my right to designate investments for amounts deferred
do not in any way confer ownership rights to those deferred amounts; and, that
ownership of the amounts deferred remain with BIG LOTS, INC.

I hereby designate that my Deferral Account be invested in the following manner:

     _______________________  _____%     _______________________  _____%

     _______________________  _____%     _______________________  _____%

     _______________________  _____%     _______________________  _____%

     _______________________  _____%     _______________________  _____%

This Deferral Agreement and Beneficiary Designation set forth below is subject
to all the terms and conditions of the Plan, shall only become effective when it
has been approved and accepted by the Committee, and shall remain in effect with
respect to such Agreement and

                                       22

<PAGE>

Beneficiary Designation unless before the commencement of any such calendar
year, a new or amended Agreement and/or Designation is filed and accepted or the
elective effective through this form is canceled on a form approved by the
Committee.

BENEFICIARY DESIGNATION

I hereby designate the following Beneficiary(ies) to receive any and all death
benefits to which they may be entitled under the terms of the Plan.

________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________

I hereby revoke any prior elections or designations under the BIG LOTS, INC.
Supplemental Savings Plan. I understand that the elections and designations
specified above shall remain in effect until and unless I effectively amend them
in accordance with procedures prescribed by the Committee or terminate may
participation in the Plan prior to the beginning of the applicable calendar
year.

Dated: __________________, 2____.               By:_____________________________

                                                ________________________________
                                                Print Name

________________________________________________________________________________

Committee Action:

The above Agreement, Investment Election, and Beneficiary Designation is:

( ) Approved and Accepted

( ) Not approved, for the following reason(s):

Dated:___________________, 2____.               By:_____________________________
                                                           Committee

                                       23

<PAGE>

                                 BIG LOTS, INC.

                            SUPPLEMENTAL SAVINGS PLAN

                       PARTICIPATION CANCELLATION ELECTION

Through an appropriate Deferred Agreement, I previously elected to defer receipt
of compensation through participation in the BIG LOTS, INC. Supplemental Savings
Plan.

I hereby elect to cancel any further deferrals through the Plan effective with
the 2____calendar year. I understand that this cancellation with become
effective with the January 1 of the calendar year immediately following the date
of this Participation Cancellation Election.

Dated: ________________________, 20___.        By: _____________________________

                                               _________________________________
                                               Print Name

Committee Acknowledgement:

The above Participation Cancellation Election has been received on this ______
day of __________________, 20___, effective for the 20____ calendar year.

                                               By:_____________________________
                                                           Committee

                                       24

<PAGE>

                                 BIG LOTS, INC.

                         BOARD OF DIRECTORS' RESOLUTIONS

WHEREAS, the Board of Directors of BIG LOTS, INC. (the "Company") wishes to
promote the success of the Company and its affiliates; and

WHEREAS, the Board wishes and desires to provide a means for certain Highly
Compensated Employees to continue to defer compensation; and

WHEREAS, the Board currently maintains a nonqualified deferred compensation
arrangement that provides certain Highly Compensated Employees the means to
defer compensation, and wishes to make certain administrative changes to the
plan and to change the name of the plan to the Big Lots, Inc. Supplemental
Savings Plan;

NOW, THEREFORE, BE IT RESOLVED THAT BIG LOTS, INC. does hereby amend and restate
its nonqualified deferred compensation arrangement (hereinafter to be referred
to as the "Big Lots, Inc. Supplemental Savings Plan), effective as of January 1,
2001, and to make certain administrative changes to the Plan;

FURTHER RESOLVED THAT the Board of Directors of BIG LOTS, INC. shall in its sole
and final discretion continue to determine the eligibility requirements to be
met by certain Highly Compensated Employees to become participants in the
above-named plan;

FURTHER RESOLVED THAT the Board of Directors shall delegate to its executive
officers the power and responsibility to take whatever action or actions are
deemed necessary and appropriate by them to carry out the purpose and intent of
these Resolutions.

Signed and dated this ____ day of _______________, 20__.

                                                                   BIG LOTS, INC

                                             BY:________________________________

                                            ITS:________________________________
                                                            (TITLE)

                                       25